Hugo Chavez, the dictator of Venezuela, referred to President Bush as Comrade Bush and said Bush has moved “left” in the financial crisis. Normally, I would defend the President and his actions, I can’t say that I have minded the Bush administration and generally feel he has done a better job than most give him credit for. But in this instance Hugo Chavez is absolutely right!
President Bush moved left like I never thought possible. First, fully supporting spending 700 billion dollars to bailout mortgage companies, then announcing that the federal government will buy majority shares of private banks!
Is he kidding? What have we become as a nation? Is our society and culture so reactionary that we will compromise the very founding principles that made us great? Apparently so. But if I wanted to live in Venezuela or Russia I would move there. But I don’t, I want to live in America, moreover I want to live in a place where I can work hard, earn money to support my family and live a comfortable life, and have the freedom to worship, play, work, speak, and move the way I want to. But the actions of our government over the last few years continually erode those rights.
But, you may be saying, what does the nationalization of banks have to do with the way you want to live? Well, it is yet another step towards socialism and government control. Government, no matter where you live, loves its power and will rarely relinquish it but often seeks to expand it. Does anyone honestly think that the continued forays of the government in to the private markets and our citizens pocketbook is going to slow down any time soon? Especially considering the legislature will continue to be controlled by America’s socialist party (Democrats) and will soon have the most left of their Senators as her President? No chance.
And that is the most frustrating aspect of this whole move by Bush to begin nationalizing these banks. He came out and said that he wasn’t a fan of this action but felt it was necessary to ensure stability in the banking structure of America and then he promised that this is a short term nationalization and that the government will sell the shares back to the companies when stablized. Does he think we are stupid? Do any of you believe him? Not me. And it is not that I don’t believe him per se, it is that the decision will not be his. If this occured in his second year as President, I would be more inclined to believe him. Why? because he would be the one to decide on the action of selling the shares a year or two down the road. But he has three months left in office. So unless he sells those shares before January 20th, they aren’t getting sold anytime soon. Do you think Barack Obama, Nancy Pelosi, or Harry Reid will sell them? No chance. They have little faith in the free market, support government control, and have no desire to relinquish power.
How dare our government take such irresponsible and reactionary actions? In any free society and market there are going to be ups and downs. Major collapses seem to occur every 10-15 years (see 2000 and the Tech collapse) and every time our market pulls out of it and becomes stronger (see the Bush economy around 2006). The free market is like nature: unpredictable, wild, efficient, successful, and prone to forest fires and disasters. Additionally, just like a forest fire in nature is initially devastating to the forest, it is always a net positive. The forest grows back healthier and stronger. The market is the same way. A fire is often necessary to get rid of the chaff and strengthen the economy, except in this instance, our government decided to use taxpayers money…MY MONEY… to keep the chaff in the market. It will be a disaster, everything the governement touches usually does.